United News of Bangladesh

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged Bangladesh Bank to strengthen policy support and extend key deadlines to help the readymade garment (RMG) sector cope with ongoing multidimensional challenges. A BGMEA delegation led by Director Majumder Arifur Rahman made the request during a meeting with Bangladesh Bank Deputy Governor Dr. Md. Kabir Ahmed at the central bank headquarters on Wednesday, according to a press release issued on Thursday. The association specifically called for an amendment to BRPD Circular-07/2025, seeking to extend the eligibility period for policy support for defaulted accounts from November 2025 to March 31, 2026. BGMEA representatives said the extension would enable struggling and “sick” industrial units to access necessary support and resume normal operations. They added that such measures could also help reduce non-performing loans (NPLs) in the banking sector and improve overall financial stability. The delegation further urged the central bank to issue mandatory directives to commercial banks to ensure proper implementation of the announced policy support. It noted that many eligible factories are missing out on benefits due to delays or lapses in execution by banks. The BGMEA delegation requested more time for closed factories to apply for reopening. While welcoming the government’s initiative to revive shuttered units, the association stressed the need for additional time to collect and verify accurate data from affected businesses to ensure a transparent and effective rehabilitation process. Deputy Governor Dr. Md. Kabir Ahmed assured the delegation that the central bank would consider the proposals and take appropriate steps. Former BGMEA Vice President Shahidul Islam, PR and Publicity Committee Chairman Masud Kabir, and senior officials from the Bangladesh Bank’s Banking Regulation and Policy Department (BRPD) were present.

Bangladesh Bank (BB) has issued a notification regarding the formation of a bank's board of directors, as well as prescribing the responsibilities of the directors as per the ‘Bank Company Act’. The Banking Regulations and Policy Department (BRPD) of Bangladesh Bank on Sunday issued the notification to ensure dynamism and good governance in the banking sector. Bangladesh Bank sets an 11-point roadmap to realise default loans The notification was sent to the managing directors and chief executive officers of all scheduled banks for immediate execution. According to the notification, the number of directors of a bank will be a maximum of 20, and independent directors will be three. However, if there are less than 20 directors, there cannot be more than two independent directors. At the same time not more than three members from a single family can be directors, the notification stated. CID finds technological negligence behind Bangladesh Bank forex heist To be a member of the board of directors, the minimum age of the concerned person must be 30 years. And should have 10 years of management business or professional experience. According to the central bank, this policy has been formulated to ensure good governance in the banks. At the same time, the board of directors of the bank must be formed by suitable and professionally competent persons to carry out the business activities properly and smoothly. Death of Bangladesh Bank official: HC asks why failure to keep footpaths safe should not be declared illegal  “The bank's activities are mainly conducted with the money of the depositors. In this case, it is essential to protect the interest of the depositors. For this reason, the responsibility of the board of directors of a bank company is more important than that of other companies,” the BB notification stated. Amendments were brought in the Bank-Company Act in 2023 to ensure good governance in the banking sector.

Bangladesh Bank has suspended all kinds of interest on bank loans for from April 1 to May 31 as businesses have been hugely affected by coronavirus outbreak.   A circular issued by the central bank’s Banking Regulations and Policy Department (BRPD) to all banks of the country said the Bangladesh Bank has decided that interest on all kinds of bank loans have to be transferred as interest-less blocked.    “This blocked interest should not be realised from borrowers until further order and such kind of interest should not be transferred to the income of the banks,” said the Bangladesh Bank.